Speedup algorithm: Modified policy iterations

We approximate the continuous random model with labor:

by switching model with infinite many states in order:

.

.

.

where

.

.

.

for many states as in 0909.

We simulate and calculate each policy function for each as it is set like

independently for each i and calculate the next index number.

When we compute each policy function for each, we apply modified policy iterations

or both error bounds and modified policy iterations together.

Technically, we attach option 4 by modifying option 3 and add option 5 to option 1.